Stratos Wealth Partners LTD. Sells 1,192 Shares of Modine Manufacturing (NYSE:MOD)

Stratos Wealth Partners LTD. cut its stake in Modine Manufacturing (NYSE:MOD) by 2.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 56,558 shares of the auto parts company’s stock after selling 1,192 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Modine Manufacturing were worth $7,510,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Acadian Asset Management LLC bought a new stake in shares of Modine Manufacturing in the 1st quarter worth about $37,000. Opal Wealth Advisors LLC bought a new position in shares of Modine Manufacturing during the second quarter valued at approximately $51,000. West Oak Capital LLC raised its holdings in shares of Modine Manufacturing by 300.0% in the second quarter. West Oak Capital LLC now owns 600 shares of the auto parts company’s stock worth $60,000 after buying an additional 450 shares during the period. Fifth Third Bancorp bought a new stake in shares of Modine Manufacturing during the 2nd quarter worth approximately $64,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in Modine Manufacturing during the 2nd quarter valued at $68,000. 95.23% of the stock is owned by hedge funds and other institutional investors.

Modine Manufacturing Price Performance

Shares of MOD stock opened at $132.79 on Friday. Modine Manufacturing has a 1-year low of $38.50 and a 1-year high of $141.72. The company has a market cap of $6.96 billion, a P/E ratio of 43.83, a PEG ratio of 1.02 and a beta of 2.22. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.80 and a quick ratio of 1.11. The stock’s 50-day moving average is $119.69 and its 200 day moving average is $106.44.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings results on Tuesday, July 30th. The auto parts company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.18. Modine Manufacturing had a return on equity of 24.92% and a net margin of 6.70%. The business had revenue of $661.50 million for the quarter, compared to the consensus estimate of $633.55 million. During the same period in the prior year, the firm posted $0.85 earnings per share. The business’s quarterly revenue was up 6.3% on a year-over-year basis. Research analysts predict that Modine Manufacturing will post 3.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Modine Manufacturing news, Director Marsha C. Williams sold 34,400 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $109.74, for a total transaction of $3,775,056.00. Following the transaction, the director now owns 144,038 shares in the company, valued at approximately $15,806,730.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.40% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Oppenheimer increased their target price on Modine Manufacturing from $135.00 to $144.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. DA Davidson lifted their price objective on shares of Modine Manufacturing from $140.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. William Blair started coverage on shares of Modine Manufacturing in a research note on Monday, July 29th. They issued an “outperform” rating on the stock. Finally, B. Riley lifted their target price on Modine Manufacturing from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $146.33.

About Modine Manufacturing

Modine Manufacturing Company provides thermal management products and solutions in the United States, Italy, Hungary, China, the United Kingdom, and internationally. It operates through Climate Solutions and Performance Technologies segments. The company offers heat transfer coils, including heat recovery and round tube plate fin coils; gas-fired, hydronic, electric and oilfired unit heaters; roof-mounted direct- and indirect-fired makeup air units; duct furnaces; infrared units; perimeter heating products; single packaged unit ventilators; modular chillers; air handler and condensing units; ceiling cassettes; evaporator unit coolers, remote condensers, fluid coolers, gas coolers, and dry and brine coolers; and motor and generator cooling coils, transformer oil coolers, radiators, dryers, and industrial heat exchangers.